Sysco Posts Disappointing Quarter

The food distributor reported $18.6 billion in quarterly revenue.

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HOUSTON (AP) — Sysco Corp. on Tuesday reported fiscal second-quarter earnings of $141.2 million.

The Houston-based company said it had profit of 28 cents per share. Earnings, adjusted for one-time gains and costs, came to 80 cents per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.

The food distributor posted revenue of $18.59 billion in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $18.73 billion.

Shares of Sysco fell 64 cents to to $77.46 in Tuesday trading.

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